How companies create, store, associate, amend, distribute and view product data directly affects bottom line results. A recent study by CapGemini estimated that more than 50% of the items in company systems contain incorrect data. The creation of a single, accurate and consistent data source removes this data error and provides a highly efficient solution for data collection, management, refinement and publishing.
Product Information Management (PIM) is a new but fast growing and dynamic category that defines a set of processes concerned with centrally managing product data. At its heart it is about creating a single, central, consistent and accurate product view usually accessed by trading partners through multiple output media such as websites, print catalogues, ERP systems and electronic data feeds. PIM systems support multiple geographic locations, multilingual data and the maintenance and modification of product data within a centralised product database delivering significant efficiencies and removing data error blockages.
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